> Do I bother with this rat race for my kids?

No. Raise your kids to find what it is that they want to do without the shackles of it having to be something that will also bring in a lot of money (it might, it might not). They can look at college as a means to get educated rather than as job prep. They have the freedom to discover what it is that makes them happy or in what ways they want to contribute to society and a better world for their children.

Lots of money doesn't buy happiness, but in today's world having enough money to free your kids from that pressure, is a gift.

The problem though that many people with that money don't use it to relieve pressure on their kids but rather to increase the pressure. "I got into Harvard, and your neighbor's getting into Harvard, so you have to get into Harvard too."